Cairn Energy : Sangomar Field Development Update

The enclosed announcement has been issued by Woodside Energy Ltd. regarding the Sangomar Field Development offshore Senegal in which Cairn has a 40% working interest.

Enquiries:

Analysts/Investors
David Nisbet, Corporate Affairs
Tel: [phone]

Media
Linda Bain, Corporate Affairs
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Patrick Handley/David Litterick, Brunswick Group LLP
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Sangomar Field Development Submits Development and Exploitation Plan

Woodside, as operator of the Sangomar (formerly named SNE) Field Development, is pleased to advise the Sangomar Development and Exploitation Plan and exploitation authorisation request were submitted to the Government of Senegal on 2 December 2019.

The Development and Exploitation Plan and exploitation authorisation request are the last major regulatory submissions required before final investment decisions can be made by each joint venture participant, which is targeted to occur later this month subject to the grant of an exploitation authorisation and relevant joint venture approvals.

Woodside CEO Peter Coleman said the submission of the documents was a major milestone for the joint venture and demonstrated Woodside's commitment to meeting the permit conditions and progressing the development of the Sangomar field.

Petrosen Director General Mamadou Faye said: 'The Exploitation Plan outlines how the field will be developed to the benefit of the people of Senegal and the joint venture, and we are excited about being in a position to take a final investment decision.'

The Sangomar Field Development Phase 1 concept is a stand-alone floating production storage and offloading (FPSO) facility with 23 subsea wells and supporting subsea infrastructure. The FPSO is expected to have a capacity of around 100,000 bbl/day, with first oil targeted in early 2023.

The FPSO will be designed to allow for the integration of subsequent Sangomar development phases, including gas export to shore and future subsea tie-backs from other reservoirs and fields. Phase 1 of the development will target an estimated 230 MMbbl of oil.

^₁The Sangomar Field Development joint venture comprises Capricorn Senegal Limited (a subsidiary of Cairn Energy), Woodside Energy (Senegal) B.V., FAR Ltd and Petrosen (the Senegal National Oil Company).